Veolia: a 'good 9 month publication' - Oddo still a buyer
(CercleFinance.com) - Hailing a good 9 month publication and a reassuring message for the current and upcoming months, an analyst at Oddo BHF this morning said that he is maintaining his buy rating on the Veolia share.
Following its contact with the group Oddo BHF thus retains three main messages. First, Veolia's usual ability to fully reverse the change in working capital requirements in the fourth quarter to fuel free cash flow. Then, is the group's aim to cut debt. Finally, Veolia is on a new cost-cutting trajectory. Indeed, it expects reduce costs by 200 million euros p.a. from 2019 to 2021, which exceeds the broker's forecast of between 100 million and 150 million euros.
Oddo BHF also confirms its target price of 30 euros, which gives upside potential of 63%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Following its contact with the group Oddo BHF thus retains three main messages. First, Veolia's usual ability to fully reverse the change in working capital requirements in the fourth quarter to fuel free cash flow. Then, is the group's aim to cut debt. Finally, Veolia is on a new cost-cutting trajectory. Indeed, it expects reduce costs by 200 million euros p.a. from 2019 to 2021, which exceeds the broker's forecast of between 100 million and 150 million euros.
Oddo BHF also confirms its target price of 30 euros, which gives upside potential of 63%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.